This Week in Startups Bolt layoffs, DroneUp, Lunar Outpost, $4.5B crypto fund, Ape theft + Diagram’s Jordan Singer | E1471
May 27, 2022
Jordan Singer, founder of Diagram, dives into the evolving realm of AI product design tools within Figma. He shares insights on the impact of automation and innovative design systems, blending creativity with technology. The discussion touches on the importance of user involvement in design processes and the balance between artistic expression and AI capabilities. They also explore the implications of intellectual property in the NFT landscape, using notable thefts to illustrate the complexities of ownership in the digital age.
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Survival Tips for Startups in Down Market
- Focus on growing revenue, securing cash reserves, minimizing expenses, and having a clear path to profitability.
- Prioritize your core business and pause less promising ventures to extend your runway.
Seek Professional Financial Advice
- Avoid taking financial advice from people on Twitter or those with vested interests.
- Consult attorneys and accountants before making major financial decisions, especially concerning stock options.
Bolt Employee Stock Purchase
- Bolt's former CEO, Ryan Breslow, encouraged employees to take out loans to buy company stock.
- This move was criticized by Jeff Richards, who warned of the potential disaster based on similar situations in the 90s dot-com boom.